Metal

India’s silver imports are projected to nearly double this year, driven by increased demand from solar panel and electronics manufacturers, as well as a shift in investor preference towards silver over gold. Importers anticipate that purchases could rise from 3,625 metric tons last year to between 6,500 and 7,000 tons in 2024. In the first […]

Zinc futures on the Shanghai Futures Exchange have risen for the third consecutive session, reaching their highest price in over a month. The most active zinc contract (SZNcv1) closed 1.5% higher at 24,000 yuan ($3,363.18) per metric ton, marking a significant increase from the four-month low of 21,780 yuan set on August 8. This price […]

Societe Generale International has announced its decision to withdraw from the London Metal Exchange’s (LME) open-outcry trading floor, effective August 27. This move raises concerns about the future viability of the trading ring, which is the last remaining open-outcry venue in Europe. The LME, the world’s oldest and largest market for industrial metals, has seen […]

China, the world’s largest steel producer, has announced a temporary suspension of its steel capacity replacement programme effective from August 23. This decision, made by the Ministry of Industry and Information Technology, aims to revise the existing measures that require steel mills to dismantle an equal amount of older capacity when introducing new capacity. The […]

Sibanye Stillwater has announced the acquisition of an additional €500 million ($557.30 million) in debt financing to advance its Keliber lithium project in Finland, despite a recent slump in lithium prices. This financing, partially supported by the European Investment Bank (EIB), is aimed at bringing the lithium mine into production by 2026. The Johannesburg-based company, […]

Aluminium prices stabilized on Thursday after reaching a six-week high earlier in the session, driven by a stronger dollar that offset fund buying amid tight supply concerns. The three-month aluminium contract on the London Metal Exchange rose 0.2% to $2,492 per metric ton, having peaked at $2,531, the highest price since July 9. Market analysts […]

Lucara Diamond Corp has announced the discovery of a remarkable 2,492-carat diamond at its Karowe mine in Botswana. This diamond is notable for being one of the largest ever excavated, ranking as the second largest rough diamond found to date, following the historic 3,106-carat Cullinan Diamond discovered in South Africa in 1905. While Lucara has […]

Whitehaven Coal has reported a significant drop in its full-year profit due to cooling coal prices, which have retreated from the record highs experienced following Russia’s invasion of Ukraine. The company announced an annual underlying net profit after tax of A$740 million ($499.35 million) for the year ending June 30, a substantial decline from A$2.66 […]

China has announced its second batch of rare earths mining output quota for 2024, setting it at 135,000 metric tons, as stated by the Ministry of Industry and Information Technology. This new quota marks a 12.5% increase from the previous year, bringing the total output quota for the year to 270,000 tons, which is a […]

Chile’s SQM (Sociedad Química y Minera de Chile), the world’s second-largest lithium producer, experienced a significant 63.2% drop in its quarterly profit, reporting $213.6 million, or 75 cents per share, for the second quarter. This figure fell short of analysts’ expectations, which had anticipated a profit of $296.7 million, or 95 cents per share. The […]